§ Mr. Grantasked the Chancellor of the Exchequer whether it remains the policy of Her Majesty's Government not to devalue the £ sterling; and what steps he is taking to improve the balance of payments position.
§ Mr. CallaghanYes. The balance of payments has substantially improved in 1965 and I announced on 27th July measures to ensure that we reach our aim of eliminating the deficit in the course of next year.